People are constantly on the lookout for personal microloans for business and personal use. But it is quite unfortunate that they were turned down by banks and other financial institutions. Getting loans shouldn’t be a problem at this age, especially when there are lots of loan organizations and companies online ready to give out short term loans.
Ferratum microloan & plus loan
Perhaps, if you are finding it difficult to get a loan, you should try out the Ferratum loan. The Ferratum loan is available in Nigeria and the company is ready to provide loans in cash for eligible applicants. In this article, you will get to know about the company, requirements for the loan, interest rate, repayment, contact details and more. Stay tuned!
What is Ferratum Loan Nigeria? | About the Company
The main company that reimburses the loan is the Ferratum Group. The microlender agency was founded in 2005 and it is domiciled in Helsinki, Finland. It is an international provider of mobile banking as well as a pioneer in digital consumer and small business loans.
Already, the company has expanded its operations and they are present in over 25 countries across Africa, Europe, Asia-Pacific, North & South America region including Nigeria, Finland, United Kingdom, Australia, Germany, Spain, France, Canada, New Zealand, Brazil, Romania, Russia and more.
The good thing is that you can apply for the Ferratum loan here in Nigeria and also get your application approved.
The following are the requirements for the Ferratum loan. If you must get the loan, you must have to meet these requirements.
- First, you’ve to be at least 18 years of age.
- Applicants must reside in Lagos.
- You must have a job, it could be a self-employed job or a work in an organization.
The least amount you can get from Ferratum is N1,000 while the maximum loan limit remains N10,000 for a period of 14 days.
How To Apply for Ferratum loan
- To apply for the loan, you have to follow the instructions outlined below;
- Dial the USSD code *322*6# on your mobile phone.
- Follow the prompts.
They provide loans in minutes. If your loan application is declined or rejected, you will be notified at once. On the other side, if it is approved, your bank account will be credited with the Ferratum loan.
Ferratum loan Interest Rate
There are two fees that you would have to pay after getting the Ferratum loan. First and foremost, you will pay the 20% establishment fee and next, you will pay a 4% monthly account keeping fee.
Ferratum loan Repayment | How to payback
There are various ways for you to pay back the loan you collected from Ferratum Group. In case one payment method fails to work, you can try out the other.
- Direct Debit: The loan amount will be deducted from your bank account by virtue of the debit card linked to the account.
- Quickteller: You can make payments faster and conveniently on the Quickteller app.
- SMS: Send a message with the text ‘QT HELP’ to 32122.
- USSD: Dial *322*1*04309401*Amount to be repaid#
- ATM: Choose ‘QUICKTELLER’. Code is 04309401. from interest rates a pioneer in mobile finances services technology.
Ensure that you repay when due because there are fees charged on late repayments. Also, defaulting loans will be reported to the National Credit Bureaus.
Ferratum Contact Details
For any reason whatsoever, you can contact the company through the methods listed below.
For General Enquiries, contact 070073536233 or send a message to [email protected] (Monday to Friday: 8 am to 5 pm).
For Loan Repayment, contact [email protected] or +234 (1) 227-8934 (Monday to Friday: 9 am to 4 pm).
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